Accountants spend their days managing other people’s money. They watch it grow, watch it shrink, and make the necessary adjustments to ensure that the former usually happens – not the latter. They do mundane bookkeeping, and prepare for eventual taxes and audits from the IRS. Accounting firms do the same thing – only on a much larger scale. These entities employ expert CPAs to provide high-level services to other businesses. Now, with all of the financial expertise one accountant has – let alone a whole company full of them – one would think that their own books must be perfectly balanced. That is not always the case, however. Many accountants and accounting firms can struggle with collecting payments from their customers, because they cannot accept credit card payments online – if at all.
In order to accept credit cards, a business has to have a merchant account that the payments can be processed through. Most credit card processing companies can deny businesses those accounts for reasons such as having bad-or-no credit, being new, or falling into the “high risk” category. Accountants – even those who work at accounting firms – fall into the class that require high risk credit card processing, and therefore, often have a hard time obtaining the online merchant services that they need. If payment processors do grant accountants/accounting firms merchant accounts, they come with strict stipulations. The businesses cannot have private merchant accounts, for example. Instead, they have to be on their credit card processors’ accounts, and pay excessive fees for each transaction. The businesses cannot immediately access their funds, either. Since the monies are in the processors’ accounts, the businesses have to wait for the processors to release it to them. This can take weeks, because the processors can place third-party holds on the funds in their accounts with little-to-no warning.
For businesses, these conditions created by payment processors can be highly damaging. Fortunately, accountants and accounting firms have Charge.com to turn to. This is one processor that will not deny a business an account simply because it received a high risk rating. The company has plenty of high risk (and low risk!) merchant accounts available, and the application process is entirely free. Once a business is approved for an account, the owner can begin processing payments through it within 24-48 hours, and all remittances are handled in real-time. Best of all, Charge.com issues each of its clients their own private merchant account, so there are no third-party holds and better security. Other benefits to using Charge.com include:
- Rates as low as 0.25%
- Transaction fees as low as $0.15
- Instant check verification
- Immediate transaction approval
- No hidden fees
- FDIC Insured accounts
- Free technology set up
- Free credit card readers – including Virtual Terminals that take online orders, process payments, send invoices, and keep records
- Free expert technical support 24/7/365
- More market exposure for businesses that are small/independent
- Domestic and International merchant accounts are available
It is really stressful to be managing someone else’s money. Accountants should not be sweating about their own. Using the credit card payment processing solutions from Charge.com to their advantage just makes sense.